Head of the European Union Delegation to Ukraine Katarína Mathernová stated that the independence of the National Bank of Ukraine is a key element not only of monetary sovereignty, but of sovereignty as such, and stressed that Brussels hopes for compliance with legally defined grounds for dismissing the regulator's head. The speech took place at the event "Beyond the Headlines. Assessing Ukraine's Progress as an EU Candidate Country," according to an RBC-Ukraine correspondent.
Regulator Independence as a Pillar of Financial Stability
"I believe that the independence of the National Bank is one of the key elements not only of Ukraine's monetary sovereignty, but of sovereignty as such. Just like many other independent institutions. The independence of the National Bank is extremely important first and foremost for financial stability," Mathernová said. She noted that over the past five years of Russian aggression, there have been no examples of financial instability or panic among depositors, and banks close only due to power outages rather than systemic problems. According to her, the minister and his team at the Ministry of Finance, the government team, as well as the NBU governor and his team have done a commendable job, while the EU, being the largest donor and partner, is in constant contact with both sides, including on financial system regulation issues.
Rule of Law as a Condition for European Integration
Mathernová emphasized that any actions regarding the National Bank governor must take place in accordance with current legislation. "I believe that the law on the National Bank clearly defines the grounds for dismissal, and I very much hope that the laws will be observed. This is the main principle of EU accession — the rule of law," stated the head of the EU Delegation. Thus, the issue of personnel decisions within the regulator is viewed in Brussels not as an internal managerial procedure, but through the prism of legal guarantees, which are one of the criteria of Ukraine's European trajectory.
Context: NABU Searches and Denial of Resignation
In response to a clarifying question from RBC-Ukraine, Mathernová reported that against the backdrop of NBU Governor Andriy Pyshnyy's statements about political pressure and attempts to remove him from office, a meeting of G7 ambassadors was held in Ukraine to discuss this issue. To recap, on October 21, National Anti-Corruption Bureau detectives conducted searches at Andriy Pyshnyy's premises; NABU stated that no one was detained or served with suspicions during the investigative actions. Afterwards, reports began circulating online about Pyshnyy's alleged resignation letter, but RBC-Ukraine sources in the NBU denied this information. Pyshnyy himself stated that he does not plan to leave his post and has not submitted a resignation letter, and also reported political pressure and attempts to discredit his work.
Parliamentary Agenda
Member of Parliament Yaroslav Zheleznyak reported that parliament may consider the issue of dismissing the NBU head during the next plenary week — November 9–13. The corresponding item has already appeared in the Verkhovna Rada's preliminary agenda for Thursday, November 12. The combination of these steps — from diplomatic reaction to parliamentary procedure — makes the issue of the NBU governor's status one of the most sensitive institutional subjects at the current stage.
